Three Ethereum Whales Accumulate $64 Million Worth of ETH from Binance and Kraken
In the past few days, three Ethereum (ETH) whales have made significant withdrawals from centralized exchanges, moving a total of over $64 million worth of the cryptocurrency. These transactions were tracked by Lookonchain, a crypto tracker.
Whale Withdraws $45.5 Million from Binance
One whale withdrew 14,632 ETH worth $45.5 million from Binance over a span of six days. Interestingly, this whale proceeded to stake all of the accumulated ETH.
Two Fresh Whale Wallets Withdraw $18.7 Million from Kraken
Lookonchain also noted that two new whale wallets took out a combined total of 6,000 ETH worth $18.7 million from Kraken in just two days.
A Separate Whale Accumulates $6.2 Million Worth of ETH from Kraken
An additional whale acquired 2,000 ETH worth $6.2 million from Kraken on Monday morning. According to Lookonchain, this particular whale has amassed a total of 26,380 Ethereum since May 24th, 2023, at an average price of $2,255 per ETH.
With the current price of ETH at $3,230, the value of this whaleโs holdings has now exceeded $85.2 million, resulting in an unrealized profit of over $26 million.
Suspected Justin Sun Wallet Buys $41.24 Million Worth of ETH
In addition to the aforementioned transactions, Lookonchain identified a suspected wallet belonging to Justin Sun, the billionaire founder of Tron (TRX). This wallet purchased 13,780 ETH worth $41.24 million from Binance over the weekend. Over the past 13 days, this wallet has acquired a staggering 168,369 ETH, which is currently valued at over $543.8 million.
Itโs worth noting that Ethereum has experienced a price increase of more than 4% in the last 24 hours and over 37% since the beginning of the year.
Hot Take: Ethereum Whales Make Massive Moves
Three major Ethereum whales have recently made significant moves in the crypto market. These actions not only demonstrate their confidence in Ethereumโs future but also indicate potential bullish sentiment for the overall market. Here are some key takeaways:
Whales Withdraw Millions from Exchanges
- One whale withdrew $45.5 million worth of ETH from Binance over six days and staked all of it.
- Two fresh whale wallets took out $18.7 million worth of ETH from Kraken within two days.
- A separate whale accumulated $6.2 million worth of ETH from Kraken on Monday morning, bringing their total holdings to over $85.2 million.
Suspected Justin Sun Wallet Continues Buying Spree
- A wallet believed to belong to Justin Sun, the founder of Tron (TRX), purchased $41.24 million worth of ETH from Binance over the weekend.
- This wallet has acquired an astonishing 168,369 ETH in just 13 days, highlighting Sunโs strong interest in Ethereum.
Ethereum Price Performance
Ethereum has seen impressive price gains, increasing by more than 4% in the past 24 hours and over 37% since the start of the year. This upward trend, coupled with the whale activity, indicates growing confidence in Ethereumโs long-term potential.
Overall, these moves by Ethereum whales suggest positive sentiment and a belief in the future of the cryptocurrency. As an investor or enthusiast, itโs important to stay informed about market trends and whale activity to make well-informed decisions.
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